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Mar 31, 2022
XpresSpa Q1 2022 Earnings Report
Reported first quarter 2022 results and articulated four strategic imperatives to accelerate company evolution.
Key Takeaways
XpresSpa Group reported a total revenue of $24.0 million for Q1 2022, compared to $8.5 million in the corresponding period in 2021. The company had a cash balance of $83.0 million and no long-term debt. They also repurchased $11.1 million of shares during the quarter.
Total revenue for Q1 2022 was $24.0 million, a significant increase compared to $8.5 million in Q1 2021.
Adjusted EBITDA was $0.4 million during the first quarter 2022.
The company had a strong cash position with $83.0 million in cash and cash equivalents and no long-term debt.
XpresSpa Group repurchased $11.1 million of its common stock during the first quarter.
Forward Guidance
Due to the swift relaxation of Covid-19 testing requirements and the continued volatility of testing, the company anticipates revenues to be lower than originally forecasted.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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